BrandSpark: Millennial shoppers are deal-savvy and engaged
Millennials may be savvier shoppers than most people think according to new research from BrandSpark International.
“A Consumer’s Path to Savings: The Role of Flyers in Today’s Digital World” commissioned by Metroland Media probed saving habits of Canadian shoppers and a key finding was that more than 80 per cent of Millennials select which stores to shop based on deals.
“And according to the study, 55 per cent of Millennials are ‘omni-channel’ shoppers, using all of print, web, and app-based flyers and coupons before visiting stores,” notes Mark Baltazar vice president and partner at BrandSpark International.
The report identified four types of shoppers based on analysis of respondents’ attitudes towards shopping:
- 45% were “engaged” shoppers characterized by heavy usage of flyers and coupons
- 19% were “deal-seeking” shoppers driven by their need to save money. They target stores and products that will help them stay with a budget and flyers and coupons to prevent impulse buying
- 21% were “inspired” shoppers who often look through flyers for new products, new ideas and information. Saving money is important to these shoppers but they are willing to pay more for products that are of better quality and are better suited to their needs, and they enjoy reading flyers
- 26% are “utilitarian” shoppers with little time and attention who view shopping as a task to complete. Deals and saving money are important, but they’re secondary priorities to making shopping trips fast and simple
“It’s interesting to note,” says Baltazar “that 68 per cent of Millennial respondents – almost 7 in 10 – fall into the two segments – Engaged and Deal-Seeking – that are characterized by deal-seeking behaviour.”